Goldman Sachs’ online retail bank Marcus has received good response in the UK following its launch in September this year.
In an interview to CNBC, Marcus managing director Des McDaid said that the online retail bank has signed up more than 100,000 customers in the UK till now.
Go deeper with GlobalData
“UK savers have been waiting for something for a long time,” He told CNBC.
“We said we’d put the interest back into savings. We did that by creating a bit of a buzz, a bit of a noise around our launch, and it’s just taken off.”
One of the key reasons identified for good debut is that it offers an interest rate of 1.5% on savings. According to data firm Moneyfacts, this rate is the highest in the market.
Marcus in UK
In the UK, Marcus initially offered services to its 6,000 Goldman Sachs staff followed by a national roll out.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataCurrently, Marcus offers savings account to consumers in the UK. The account is open to all UK savers aged more than 18 and it accepts deposits up to £250,000.
The online bank employs 150 people and has dedicated UK call centre to meet the customer’s requirements.
McDaid added that further expansion of its online retail bank across other European countries is under consideration.
Goldman Sachs’ launched Marcus in the US two years ago and now has more than two million customers.
In the US, it offers consumer personal loans, savings and personal financial management services.
